The share of homes with values topping $1 million rose from 1.6 percent to 3 percent nationwide between 2012 and 2016.
Real estate website Trulia says that in many major cities, million dollar homes are becoming more common.
Following the report in a separate article, Marketplace reporter Mark Garrison writes:
The share of homes with values topping $1 million rose from 1.6 percent to 3 percent nationwide between 2012 and 2016. But many major metro areas are seeing far more dramatic increases. Some 57 percent of San Francisco homes are now worth a million or more, up from 20 percent in 2012. Areas outside Silicon Valley are also seeing big jumps.
Some of this simply reflects overall rising housing prices, pushing more homes into seven-figure territory. But that’s not the whole story.
“Most construction today is actually in the middle to upper end,” said Trulia chief economist Ralph McLaughlin.
FULL STORY: Million-dollar homes are no longer anything special
Where Million-Dollar Homes Are the Norm
Recent data from Trulia reveals that the number of homes worth at least million dollars doubled in the past four years. Some places have a veritable monopoly on ritzy domiciles.
Median Home Prices Top $1 Million in Over 200 California Towns
Towns once known for their affordability are seeing sharply rising home prices.
The ‘Lock-In Effect’ Keeping Home Prices High
Housing prices dropped slightly last year, but first-time and middle-income buyers found little price relief due to the “lock-in effect” of the historically low interest rates in effect for more than a decade prior to 2022.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco's School District Spent $105M To Build Affordable Housing for Teachers — And That's Just the Beginning
SFUSD joins a growing list of school districts using their land holdings to address housing affordability challenges faced by their own employees.
The Tiny, Adorable $7,000 Car Turning Japan Onto EVs
The single seat Mibot charges from a regular plug as quickly as an iPad, and is about half the price of an average EV.
As Trump Phases Out FEMA, Is It Time to Flee the Floodplains?
With less federal funding available for disaster relief efforts, the need to relocate at-risk communities is more urgent than ever.
With Protected Lanes, 460% More People Commute by Bike
For those needing more ammo, more data proving what we already knew is here.
In More Metros Than You’d Think, Suburbs are Now More Expensive Than the City
If you're moving to the burbs to save on square footage, data shows you should think again.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)